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Performance Management Issue

Essay by   •  September 26, 2015  •  Research Paper  •  3,218 Words (13 Pages)  •  1,072 Views

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Case 1.  Performance management issue./Performance evaluation issues

Overview of  Company

The Premier bank is a prestigious financial institute  with more than sixty branches in Sri Lanka which has two subsidiary companies. Premier bank is currently employing over 1000 staff (including executive and non executive staff), and is also among one of the largest companies listed in the Colombo Stock Exchange.

This company was established over 20 years ago. From its inception the Premier bank underwent several changes from being a non-listed company to a listed Company. Today the company provides facilities and services to its customers, which some of them are firstly introduced to the country.

Before restructuring, the bank adhered to the rules and regulations applicable to any financial institute. After restructuring, the bank introduced a different set of rules and regulations to its employees according to the rules and regulations which were practiced by many leading banks under the guidance of the Central bank of Sri Lanka

With the restructuring  in 2011 as well as shareholders demand for performance and profits were significant impact on many changes in operations in the company including Human Resource Planning. Competition is also another external influencing factor for these changes. Mainly the bank  has to change the working culture, motivating employees to be more effective and efficient, market sensitive and highly customer focused. This was not an easy challenge for Human Resource Group of the company. They have implemented voluntary retirement scheme to reduce the overstaffing problem and to achieve the efficiency. Employees were trained to use IT and new technologies to improve efficiency. There were lots of consecutive training programs run by the company to implement the customer focus approach. Breakthrough thinking was implemented to further enhancement of performance. With all changes, Premier bank given high attention to employees. When we analysis the organizational structure, it is clear that Human resources Group and it’s functions are highly recognized within the organization as it is the key of the successful employees of the bank ,who lead the bank forward.

Objectives of Human Resource Group

01.        To provide rewarding and satisfying work life for every employees

02.        To enhance the skills and knowledge including personal development.

Activities and systems to achieve above objectives

01.        Training programs - motivational programs, productivity development programs

02.        Employee empowerment initiatives

03.        Welfare and recreational facilities

Human Resource Management in Organizational Structure.

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Functions of Human Resource group

  1. HR Planning
  2. Job Design
  3. Recruitments
  4. Training and development
  5. Performance Management
  6. Employee Relations & Benefit Management
  7. Transfers
  8. Promotions

Selected Problem – Performance Evaluation

Even though the Premier bank has separated group for human resource planning and all the objectives and functions are well documented and agreed to implement, there are lot of weak points can be identified in practical implementation in human resource planning. For this assignment, we have selected to analysis the performance evaluation method in the bank which  leads to greater employee dissatisfaction and lose the individual motivation. Some employees are really disappointed and when they have chance to leave the organization they never think twice.  They are really skilled & experienced  employees and valuable assets of bank. Some are still working at the bank, but their motivation and satisfaction is low due to weaknesses in current performance evaluation method. The existing performance evaluation method was introduced for all employees in the bank few years ago.

Current Performance Evaluation Process

The process starts at the beginning of the year. Every employee receives the targets from their respective department heads for the year ahead. The targets vary according to the department and the positions of the individual which each employee is attached to.

Why Performance evaluation is so important?

In the bank Performance evaluation is  more important for below objectives ( According to information gathered through Human Resource Group)

  1. To assist superiors to evaluate, their subordinates to assess their contribution
  2. To assist superiors to reward their subordinates.
  3. To assist superiors to help in Personal and Career Development of their subordinates
  4. To get both appraiser and appraise to agree on certain appraisal criteria

Further performance evaluation is used to implement below activities.

  • Training & Development
  • Annual Performance Evaluation Bonus
  • Salary Increment
  • Promotion
  • Transfers
  • Extension of Service
  • Foreign Training Opportunities
  • To decide on probation period
  • To decide on Permanency

Purposes of Performance Evaluation

  • Ensuring individual performance is contributing to corporate objectives
  • Building procedures for employee Development
  • Sustaining and improving employee Motivation - by ‘Rewarding’
  • To provide a sound basis for organization’s T&D plans for the future and for ‘Succession Planning’
  • Correcting misunderstandings concerning performance expectations

When we analysis above objectives, purposes and the activities which is based on performance evaluation and the process of performance evaluation , it is clear that there are some steps are not implemented in the institution.  

Process of Employee Performance Evaluation

Employee Performance evaluation is not a simple activity which is just set objectives and implement it and take decision based on the results came through the evaluation. It is a systematic process as many Human Resource Experts explained.

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